Well, here it goes—the intention is to write a Sunday blog entry about my previous week’s experiences at the Forex365 Institute where I’m a teacher and student.
So, what’s up this inaugural Sunday? I’m going to start with my favorite quote about education and learning—“when the student is ready the teacher will appear.” I’m confident that we’ve all had such experiences in our lives. It’s a specific example of the general Law of Attraction (“like attracts like”).
Anyone who has been to our institute knows we have a fantastic and open culture. Students are encouraged to freely ask questions both in person and online. This open culture is one of the aspects of which I am most proud. However, if we can create even more “when the student is ready the teacher will appear” moments, we can speed up the learning curve for our students. The good news is that we can do it. How? By, all of us, more actively participating in the educational process.
The encouragement to our students to pursue higher and higher levels of active participation is all around us. We teach The Successful Forex Trader’s Personal Constitution which includes, “I continue to educate myself on how the market works.” In my opinion, to be most effective, this should not be done alone in silence, but, with the help and enthusiastic encouragement of fellow students, mentors and teachers. The Forex Institute Rules include, “Always … Help and mentor fellow students.”
I’m urging all of us as like-minded individuals to contribute to our like-minded community by consciously deciding to increase the pace and depth of our professional Forex currency trading educations. Specifically, reinvigorate your initial enthusiasm and excitement about learning to trade by gathering your courage to ask more questions, make more statements, share more trades for analysis. Let’s grow technically (by discussing our tools—the charts and indicators) and emotionally by sharing our mindset thoughts and feelings experienced during the trading sessions.
More “when the student is ready the teacher will appear” experiences can only be a good thing for all of us as we pursue excellence and success as professional Forex currency traders mastering our destinies by mastering our trading tool-sets, skill-sets and mind-sets.
Wealth Smart Instructor
As of 7/28 2014 the GBP/AUD pair has been accumulating on a massive scale leading up to the major news that we have got in the coming days. The news includes the following: EUR German Price Index, USD Gross Domestic Product, USD Rate Decision, EUR German Unemployment Rate, EUR Consumer Price Index, Followed by USD Non-Farm Payroll & ISM numbers. These are all high moving news events, that will push the markets in most every pair due to the large amounts of traders that will be active these days to get a piece of the action.
The way to go about trading this particular set of circumstances is to look beyond the overall direction it seems to be floating towards, and instead trying to identify the belief being created here by the Market Makers. Where are the active highs and lows? Which ones have they pushed through already? How would a person in a long feel about their position? How about a short? Identifying how emotions are moving in the market is key to forecasting a profit release (Click on the picture for a bigger view).
What we can see here is a snap down shortly into the accumulation phase followed by a slow accumulation to the upside. Notice in the picture shown the most recent candle has a wick that comes right down to the middle of the accumulation zone, then starts backing off to head long again . Small details like this can make the difference in our analysis of the market and how a move might play out.
As the week unfolds, watching for these signs the Market Makers have left can reveal the true intention of the Market. There will no doubt be plenty more manipulation leading up to the news events mentioned above, however with the right mindset and fair assumptions you can be on the right side of each of them. Stay tuned for more market analysis as the week unfolds.